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Shielding Pension and Trust Assets from Inheritance Tax
Before we look at ways of structuring asset ownership to minimise inheritance tax, it is essential to address one common misconception. People will often talk about tax evasion and tax avoidance (management) simultaneously. Tax evasion is an illegal method of minimising your tax liability, while tax avoidance is a legal method of reducing your potential […]
Posted in Pensions
Using Life Insurance To Pay Off Joint Debts
Life insurance and a spouse’s or partner’s passing are not subjects that are easy to discuss at the breakfast table. But unfortunately, many people put off these discussions only to find they are left financially exposed if the worst happens. The concept of using life insurance to pay off joint debts is not new – […]
Posted in Insurance
When Did You Last Review Your Protection Insurance?
When buying insurance cover, there is a temptation to renew continually, or some people may look to reduce their premiums. Very rarely do people stop to take account of the changes in their lives since they initially took out their cover, which can sometimes lead to problems in the future. What would you say if […]
Posted in Insurance
Employee Benefits: Using them to Reduce Employee Turnover
As a business owner, staff retention has many benefits in terms of cost and the often unseen consequences of significant staff turnover. Therefore, it is essential to consider the cost of employee benefits against the cost of replacing low, medium and high-level staff. We have seen employers who have decided to cut employee benefits, pushing […]
Posted in Corporate Services
Baby Boomer Generation: The Pros and Cons of Equity Release
While potentially struggling to cover general living expenses, many of the so-called baby boomers may have paid off their mortgage and find themselves sitting on a relatively valuable asset, their home. Consequently, there has been growing interest in equity release, but there are several pros and cons to consider before taking action. Two types […]
Posted in Financial Planning, Mortgage
The Impact of Inflation on Pensions
As we enter 2024, UK inflation is trending downwards, with the latest figure for November coming in at 3.9%. It’s easy to forget that this time last year, UK inflation stood at more than 10%, having hit a 41-year high of 11.1% in October 2022. While still some distance from the Bank of England’s target […]
Posted in Pensions
Pros And Cons Of “Pot For Life” Pension Reform
Ahead of the recent Autumn Budget, there was speculation about potential changes to inheritance tax and national insurance, but minimal mention of a “pot for life”. A continuation of the ongoing pension reforms, this has generally been well received by the industry and consumers. However, there are several pros and cons to consider as the […]
Posted in Uncategorized
What Are The Main Factors Which Will Impact House Prices In 2024?
The fact there is no real consensus on forecast house price movements in 2024 reflects the uncertain outlook for the UK. The Office for Budget Responsibility (OBR) believes UK house prices will fall by 4.7% in 2024. Interestingly, Savill’s is forecasting a fall of 3% across the UK and 4% in London, broadly in line […]
Posted in Financial Planning, Investments, Mortgage
How Long Should You Fix Your Mortgage Rate?
The UK has one of the more developed mortgage markets, providing a wide range of options, whether acquiring your first home or looking to refinance an existing mortgage. When it comes to the duration of your mortgage, it often comes down to one factor, the level of certainty you require and the amount of risk […]
Posted in Mortgage
What Can We Expect From Global Stock Markets In 2024?
As we have seen recently, predicting days or weeks in advance has been challenging for global stock markets, never mind 12 months into the future. As we approach the end of the year, often a time for reflection, it’s also a time to look to 2024 and at least be aware of expectations for global […]
Posted in Financial Planning, Investments